Based on an analysis of China ＇s current pension system, the present paper indicates that risk control of pension fund management is a serious policy challenge for the Chinese Government. Although some reform efforts...Based on an analysis of China ＇s current pension system, the present paper indicates that risk control of pension fund management is a serious policy challenge for the Chinese Government. Although some reform efforts have been made, there are still serious institutional and capital market risks that are difficult to overcome but are key in the success of China＇s pension reform. To ensure a smooth transition in pension reform, China not only needs to build a better institutional framework and facilitate capital market development, but also raise the risk awareness of individual pensioners.展开更多
China’s public pension system is managed at the provincial level.In recent years,the development of public pension system in the provinces has become more unbalanced.The increase in the gap between the developed and ...China’s public pension system is managed at the provincial level.In recent years,the development of public pension system in the provinces has become more unbalanced.The increase in the gap between the developed and less developed regions of China has become increasingly evident.Based on an analysis of changes to population structure in each province during the 20 year period 1995-2015,combined with research focused on public pension policy,this paper finds that there are great differences in the structure of population in each province with respect to age,type(the ratio of local residents to migrants),and quality(the proportion of the population with higher education).All of these are important factors that help to explain the unbalanced development of the public pension system.China’s developed regions have cumulative advantages in these three areas,and this study found that the gap between developed and less developed regions was growing.Among the three factors,the influences of population age and quality structure were a reflection of normal social phenomenon,while variations of population type structure in the provinces were largely a result of the way in which China’s public pension transfer policy is designed.In this paper,the author argues that if barriers to migration were removed,greater population mobility would help realize national management of the public pension system.展开更多
文摘Based on an analysis of China ＇s current pension system, the present paper indicates that risk control of pension fund management is a serious policy challenge for the Chinese Government. Although some reform efforts have been made, there are still serious institutional and capital market risks that are difficult to overcome but are key in the success of China＇s pension reform. To ensure a smooth transition in pension reform, China not only needs to build a better institutional framework and facilitate capital market development, but also raise the risk awareness of individual pensioners.
文摘China’s public pension system is managed at the provincial level.In recent years,the development of public pension system in the provinces has become more unbalanced.The increase in the gap between the developed and less developed regions of China has become increasingly evident.Based on an analysis of changes to population structure in each province during the 20 year period 1995-2015,combined with research focused on public pension policy,this paper finds that there are great differences in the structure of population in each province with respect to age,type(the ratio of local residents to migrants),and quality(the proportion of the population with higher education).All of these are important factors that help to explain the unbalanced development of the public pension system.China’s developed regions have cumulative advantages in these three areas,and this study found that the gap between developed and less developed regions was growing.Among the three factors,the influences of population age and quality structure were a reflection of normal social phenomenon,while variations of population type structure in the provinces were largely a result of the way in which China’s public pension transfer policy is designed.In this paper,the author argues that if barriers to migration were removed,greater population mobility would help realize national management of the public pension system.
